Bitcoin News today with the leading story being Credit Suisse leading a group of banks in the launch of a commercial platform for blockchain-based syndicated loans. Credit Suisse believes blockchain technology can reduce barriers between counterparts as well as reduce time and cost by using smart contracts.

Emmanuel Aidoo, who leads Credit Suisse’s blockchain said “We are working to put a few dozen smaller loan transactions, where we or other participating banks are the agent, onto a distributed ledger platform using smart contracts in production next year.”